Original URL: http://www.theregister.co.uk/2006/10/03/ftc_examines_brocade_mcdata_acquisition/
FTC pokes stick at Brocade-McData buy
Answers, please!
Posted in Storage, 3rd October 2006 20:23 GMT
The Federal Trade Commission has asked Brocade to give it more information over its proposed acquisition of enterprise storage rival McData.
The FTC made its request under the Hart-Scott-Rodino Act to examine the deal for potential anti-trust implications, but this looks pretty much par for the takeover course.
Brocade today confirmed (http://phx.corporate-ir.net/phoenix.zhtml?c=90440&p=irol-newsArticle&ID=911450&highlight=) its expectation that the deal will close as early as its first quarter of fiscal year 2007, ending January 27, 2007.
The company announced its intention to buy McData, in a $713m all-stock deal, in August. It intends to wield the axe post merger, looking to shave $100m in annual costs. ®
